It’s very obvious that amerikkka is circling the drain now, but clearly this didn’t just happen in a vacuum. It must’ve started crumbling at some point… but when?

Some people might say it started after 9/11, others might say it goes back to the Raegan administration. A few might even say it started after losing the Vietnam War, or when they went off the gold standard. Or maybe even earlier…

What do you think? three-heads-thinking

  • copandballtorture [ey/em]@hexbear.netEnglish
    27·
    6 months ago

    Manufacturing has been in decline for a long time. NAFTA was one of the last nails in that coffin. But the tech boom of the 90s+ injected a few decades of growth and international status. I’ll put my “point of no return” collapse date at Y2K

    • nohaybanda [he/him]@hexbear.netEnglish
      17·
      6 months ago

      I feel like the subprime mortgage crisis broke something deeper. I can’t put my finger on it, but it seems like this is the point when political power completely capitulated to finance capitalism.

      • zed_proclaimer [he/him]@hexbear.netEnglish
        14·
        6 months ago

        In 2020 they literally increased the money supply by like 20% by printing trillions of dollars and just handed it out to corporations to do stock buybacks. It certainly was completely captured by that point

        • Wheaties [she/her]@hexbear.netEnglish
          10·
          6 months ago

          There was also the bailout of Silicon Valley Bank last year. It was a blink-and-you’ll-miss-it headline, but man. Like Lehman Brothers, but the Federal Bank ahem Reserve stepped in before the bankruptcy actually hit the stock markets.

        • nohaybanda [he/him]@hexbear.netEnglish
          7·
          6 months ago

          Yeah the response to the 2020 crisis was unsurprising. That war had already been fought and lost (or won, if you’re a finance ghoul)